Property Focus – The Interview: Abid Jaffry
How difficult is it to operate in the property sector at this time?
I think it is a question of mind-set and I have never been busier than I am at the moment, largely because my business model has altered to reflect the ever-changing market dynamic. I have always made sure that my clients have received the absolute best service and the long-term benefits mean that my clients trust my opinions and know they will always receive sound advice.
If you could improve anything in the region, what would it be?
The current levels of stock!
How does the North West property market compare to other regions in the UK?
North West occupational markets have had the strongest regional performance consistently over the last few years and have repeatedly proven to be the most robust outside of London. This means that a lot of institutional buyers are now keen to acquire assets in the North because the South East is becoming over-heated whereas we offer excellent growth prospects.
What has been your biggest business mistake/achievement?
I’ve made lots of mistakes but thankfully I don’t recall any really big ones. My biggest achievement has probably been my total career change at 30 from failed tennis player to head of office running a property consultancy.
What is the best project you’ve been involved in?
I have been lucky enough to be involved in many exciting projects such as the purchase of the MEN Arena, but the most satisfying have been the recent forward fundings at Omega North for LaSalle Investment Management. From our research data, we spotted that stock levels were very low and that the opportunity to acquire prime industrial assets should be a target before the pricing increased. We managed to buy two key regional sites in the North West with a combined value of £35m within three months, and before any competitors were able to recognise the real strength of the opportunity.
What drives you to be the best in your field?
In my view, property is one of the most interesting professions and every day is different. You are always learning so the stimulation level is high and you need to be on your toes to keep track of market movements. First and foremost, I think it is very important to enjoy what you do and this is ultimately the key driver that should get you out of bed.
Name the person who has most inspired you and the one who has had the biggest influence on your career?
People who inspire and influence me aren’t necessarily those involved within the property industry although I have been very fortunate to have been mentored by some very astute characters – step forward Colin Benson and Joe Shaoul.
What are the best and worst pieces of advice you’ve been given?
A maxim I apply is to never try to control what you can’t control. And I don’t listen to bad advice.
